IBA announced that it has received the downpayment for a contract signed at the end of December 2022 with the H. Lee Moffitt Cancer Center and Research Institute Hospital (“Moffitt”) in Tampa, Florida, US, for the installation of its Proteus®ONE1 compact proton therapy system. As Florida's only National Cancer Institute-designated comprehensive cancer center, Moffitt previously announced this new proton therapy treatment facility as part of its ongoing expansion. IBA's Proteus®ONE, as the only user-centric compact Imaged Guided Intensity Modulated Proton Therapy solution, includes Cone Beam Computed Tomography (CBCT) and an open gantry solution with surface-guided proton therapy capabilities enabling high-quality treatments with optimized patient throughput and excellent user and patient experience.

The contract with Moffitt includes a 10-year operation and maintenance agreement, and it is expected that patients will start being treated in 2026. The typical end-user price for a Proteus®ONE system with a 10-year maintenance contract ranges between USD 40 million - USD 50 million. Revenue recognition on the contract started in 2022.